Australian workers’ confidence in finding a new job has fallen to its lowest level in a year, according to Randstad’s latest labour mobility index.

The index continued its steep decline in quarter three, falling a further six points to 101, after tumbling four points last quarter from its 12-month peak of 111 points.

Randstad’s mobility index tracks changes in the expectation of workers to be employed elsewhere over the next six months. It is measured every quarter as part of Randstad’s Workmonitor, which
provides a comprehensive understanding of job market sentiments.

Randstad CEO, Fred van der Tang, says the Australian economy has hit a series of speed bumps in recent months, and worker confidence has fallen accordingly.

“When the economy shows signs of instability, we generally see reduced worker mobility. “It’s natural in times of uncertainty for workers to tread cautiously and stick with what they know,” says van der Tang.

“Earlier this year when the economy was showing greater strength, we saw much higher levels of optimism among workers. We expect mobility to return to the labour market once key economic indicators reflect a more positive outlook.”



Global Comparison

In a global context, Australia ranks third for actual mobility, with 21.1% of Australians having changed jobs in the previous six months. Only China (44.6%) and India (37.6%) have experienced greater movement in the labour market.

In the Asia Pacific region, Australian workers are the least concerned about climbing the corporate ladder, with only 57% claiming promotion is a focus. This compares to 88% of respondents from India, 81% from China, 71% from Singapore and 63% from New Zealand. Outside of Asia Pacific, 86% of respondents from Mexico and 82% from Italy are focused on landing a promotion.

Randstad’s Quarter Three Workmonitor also found, of Australian workers:

• 7% are very frightened of losing their job
• 17% have no fear of losing their job
• 8% are actively looking for a new job
• 73% are not actively looking for a new job
• 69% are satisfied or very satisfied with their job
• 11% are dissatisfied or very dissatisfied with their job
• 57% are focused on getting a promotion
• 58% feel the need to do something completely different in their career

For a complete press report, including detailed country differences, click here.